Monday, May 04, 2009

"Generally, the donor’s recourse is to not make future gifts"

NYT "Wealth Matters" columnist Paul Sullivan had a piece over the weekend on the "battles between dead donors and nonprofits [that] are increasing as the economy worsens." He says that "when the donor is alive, redirecting funds is simple: a charity asks and the donor agrees or disagrees. The battles ensue when the donor is dead and the meaning of the legacy is up for debate. ... [I]f the university presses on, the heirs have little recourse beyond the court of public opinion. State attorneys general are responsible for regulating nonprofits, but they often do not have the time or desire to get involved."